April M2 Grows 9.2 Percent to IDR 10,253.7 Trillion: BI

RRI.CO.ID, Jakarta - Bank Indonesia (BI) reported that broad money supply (M2) in April 2026 grew 9.2 percent year‑on‑year (yoy) to IDR 10,253.7 trillion (approximately USD 578.55 billion). This figure was slightly lower than the March growth rate of 9.7 percent (yoy).

“M2 growth was driven by a 13.6 percent (yoy) increase in narrow money supply (M1) and a 4.7 percent (yoy) increase in quasi‑money,” said BI Communication Department Executive Director Ramdan Denny Prakoso in an official statement in Jakarta on Friday, May 22, 2026, as quoted on BI’s website.

M1 stood at IDR 5,936.1 trillion, accounting for 57.9 percent of M2, while quasi‑money reached IDR 4,253.6 trillion, or 41.5 percent of M2.

Denny explained that net claims on the central government and credit disbursement were the main drivers of M2 growth. Net claims rose 38.6 percent (yoy), following a 39.1 percent increase in March. Credit disbursement grew 9.4 percent (yoy) in April, up from 8.9 percent in March.

The credit data covers loans only, excluding financial instruments treated as loans such as debt securities, banker’s acceptances, and repo claims. It also excludes loans from overseas commercial bank branches and loans to the central government or non‑residents.

Adjusted primary money (M0) in April grew 14.3 percent (yoy) to IDR 2,232.2 trillion, compared with 16.8 percent growth in March. This was driven by a 21.6 percent (yoy) increase in commercial bank demand deposits at BI and a 14.6 percent rise in currency in circulation.

According to BI, adjusted M0 growth reflects the impact of liquidity incentives under adjusted monetary control. ***